Kunlun Energy, a unit of China National Petroleum Corp, plans to sell upstream assets and may buy an LNG terminal from its parent as the company shifts focus to gas distribution, Chairman Huang Weihe said. The company is seeking to sell international assets to its parent or to global oil majors, Huang told reporters in Hong Kong Thursday after Kunlun’s annual shareholder meeting.
Kunlun owns nine oil and gas producing assets in seven countries including China, Huang said. The Company is actively looking for buyers and there is no timeline for the sale, he said.
